The isothermal kinetics of carbide precipitation occurring at the interface of preexisting (Ti,Nb)(N,C) particles and within the deformed γ-austenite matrix were separately evaluated using a Nb-Ti-V microalloyed steel through small-angle neutron scattering and transmission electron microscopy. While the specimen was isothermally held after deformation at 1223 K (950 °C), (Nb,Ti)(C,N) particles were precipitated at the interface of coarse (Ti,Nb)(N,C) particles preexisting in the recrystallized γ matrix. This resulted in a single size distribution curve, which was converted from the measured magnetic scattering cross section. However, during isothermal holding after deformation at 1123 K (850 °C), fine (Nb,Ti,V)(C,N) particles formed mainly within the deformed γ matrix, although some of them were precipitated at the interface of preexisting coarse (Ti,Nb)(N,C) particles. Accordingly, the specimens held at 1123 K (850 °C) exhibited double size distribution curves. The separate evaluation between matrix and interface precipitation kinetics was successfully performed using the size distribution curves due to the difference in particle size according to the nucleation site. The reliability of carbide precipitation kinetics was confirmed by comparing the measured ratio between magnetic and nuclear scattering cross sections with the ratio calculated based on the measured chemical composition of precipitates.